Elon University
Income Statement
Fiscal Year Start:
Jun 1
Revenues in 2024
$412,993,975
Program Services
92%
Contributions
4%
Other
3%
Government Grants
1%
Fundraising Events
<1%
Membership Dues
0%
Investments
0%
Expenses in 2024
$398,332,753
Salaries & Benefits
44%
Grants
21%
Other
15%
Fees to Service Providers
8%
Offices, Occupancy & IT
6%
Depreciation
4%
Advertising & Promotion
<1%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$14,550,206
$15,648,940
+8%
Government Grants
$4,237,902
$4,163,014
-2%
Fundraising Events
$353,756
$420,893
+19%
Program Services
$356,344,487
$380,639,035
+7%
Membership Dues
$0
$0
-
Investments
$2,106,906
$0
-100%
Other
$11,468,680
$12,122,093
+6%
Total Revenues
$389,061,937
$412,993,975
+6%
Expenses
2023
2024
Change
Grants
$72,218,357
$82,635,678
+14%
Benefits to Members
$0
$0
-
Salaries & Benefits
$163,004,684
$176,807,090
+8%
Fees to Service Providers
$30,212,996
$33,763,658
+12%
Advertising & Promotion
$1,632,261
$1,624,563
0%
Offices, Occupancy & IT
$23,163,692
$25,550,893
+10%
Interest
$1,101,046
$1,138,472
+3%
Depreciation
$15,798,876
$16,205,987
+3%
Other
$57,459,091
$60,606,412
+5%
Total Expenses
$364,591,003
$398,332,753
+9%
Net income
2023
2024
Change
Net income
+$24,470,934
+$14,661,222
-40%
Functional Expenses
Summary
2023
2024
Change
Program
$312,731,042
$342,044,091
+9%
Admin
$44,150,532
$48,250,143
+9%
Fundraising
$7,709,429
$8,038,519
+4%
Total Expenses
$364,591,003
$398,332,753
+9%
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